GE and FANUC Complete Joint Venture Dissolution
GE and FANUC Ltd. have dissolved the GE Fanuc Automation Corporation Joint Venture. This agreement returns the respective portions of the joint venture back to the parent companies, and allows each firm to focus on its existing businesses and pursue growth in its respective core industry of expertise. The two companies signed the final agreement in Chicago in December, and will now operate independently as GE Intelligent Platforms and FANUC Ltd.
"Today begins the next phase in GE Intelligent Platforms' focus to provide our customers with a sustainable advantage through industry-leading technology and the passion and expertise of our people," said Maryrose Sylvester, president and CEO of GE Intelligent Platforms, at the time of the announcement. "We will continue to invest in our product and solution platforms that allow our customers to compete and succeed in a challenging economy. In addition, we intend to utilize our world-class enterprise software as a platform for faster growth for the entire GE portfolio."
GE Intelligent Platforms continues as a high-performance technology company that serves a vast array of industries around the world, including government and defense, telecommunications, energy, water, transportation and consumer packaged goods. The company delivers software and services, control systems, and embedded systems globally.
FANUC's honorary chairman, Dr. Seiuemon Inaba, said, "Our joint venture has achieved great success in the computer numerical control (CNC) business. We have achieved many things together, but FANUC is now looking forward to focusing our efforts on our industry-leading CNC portfolio and the opportunities unique to our industry that will deliver great benefits to our customers."
The two companies will continue to work together in a commercial relationship related to GE's motion control and motor products with no interruption in supply of these components. In addition, GE intends to support its CNC customers in the Americas through its CNC services business.